XcelTrip has created cheap travel prices by utilizing blockchain technology to create their travel booking site. XcelTrip can offer cheap travel prices because their system has eliminated the middleman. Therefore, the vendors, such as hotels, motels and airlines, are not paying huge fees charged by the middleman. Hence, cheap travel prices can be passed onto the consumer.

Databases

Until the creation of blockchain technology, all information on the internet was processed and stored by databases. Databases are basically very large computers, such as those that fill a warehouse. There are many databases throughout the world. These databases are targets for hackers.

Blockchain

Blockchain technology totally eliminates databases. The blockchain is made up of many computers located throughout the world. These computers are all running the same program, a blockchain program. When information is entered into the system, these computers process the information and it is stored simultaneously on all of these computers. This creates a system that is virtually impossible to hack, thereby keeping our private information safe.

Cryptocurrency

The blockchain operates on a type of cryptocurrency. This varies depending on the blockchain you are using. The blockchain rewards those who allow their computer to be part of the blockchain by giving them cryptocurrency. As time passes and your computer continues to process and store information for the blockchain, you are given more cryptocurrency. This is called “mining” cryptocurrency. Also, while you are mining cryptocurrency, you are making money, because the currencies have monetary value.

Xcel Tokens

XcelTrip is issuing their own cryptocurrency, which is Xcel tokens. Furthermore, these tokens can be used to pay for airline tickets, hotels, and other services booked through XcelTrip. Xcel tokens will be released on the digital currency exchanges on March 1, 2018. Additionally, they will be released at a value of .22 each. Therefore, if you are someone who travels, these Xcel Tokens would be a great investment.

If you would like to read more about XcelTrip or cryptocurrencies, visit some of these other pages I have written.

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